Common use of Extension of Maturity Date Clause in Contracts

Extension of Maturity Date. (a) The Borrower may, by delivering an Extension Request to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender, acting in its sole discretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise the Administrative Agent in writing whether or not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending Lender. The Administrative Agent shall notify the Borrower, in writing, of the Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree. The Maturity Date may be extended no more than two times pursuant to this Section 2.22.

Appears in 2 contracts

Samples: Credit Agreement (Deluxe Corp), Credit Agreement (LHC Group, Inc)

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Extension of Maturity Date. (a) The Borrower may, by delivering an Extension Request to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders extend the Existing Maturity Date to the first anniversary of such Existing Maturity DateDate (or, if such date is not a Business Day, the immediately preceding Business Day). Each Lender, acting in its sole discretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise the Administrative Agent in writing whether or not such Lender Xxxxxx agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending Lender. The Administrative Agent shall notify the Borrower, in writing, of the Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree, and it is understood that no Lender shall have any obligation whatsoever to agree to any request made by the Borrower for an extension of the Existing Maturity Date. The Maturity Date may be extended no more than two times pursuant to this Section 2.22.

Appears in 2 contracts

Samples: Credit Agreement (Northwest Natural Gas Co), Credit Agreement (Northwest Natural Gas Co)

Extension of Maturity Date. (a) The Not later than 30 days prior to each anniversary of the Amendment No. 1 Effective Date, the Borrower may, by delivering an Extension Request upon notice to the Administrative Agent (who which shall promptly deliver a copy to each of notify the Lenders), not less than 60 days in advance of the request that each Lender extend such Lender’s then existing Maturity Date (i) for an additional one year from such Lender’s Maturity Date then in effect, (ii) for such additional number of days which would cause its Maturity Date to be the latest Maturity Date then in effect, or (iii) for such additional number of days which would cause its Maturity Date to be one year after the latest Maturity Date then in effect at (each Lender’s then existing Maturity Date being referred to herein as its “Present Maturity Date” and such time (the Lender’s proposed extended Maturity Date being referred to herein as its Existing Extended Maturity Date”), request that the Lenders extend the Existing Maturity Date to . This option may only be exercised (x) after the first anniversary of the Amendment No. 1 Effective Date, (y) once during any twelve (12) month period, and (z) twice during the term of this Agreement. Within 20 days of delivery of such Existing Maturity Date. Each Lendernotice, acting in its sole discretion, shall, by written notice to each Lender shall notify the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise the Administrative Agent in writing whether or not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not advise the Administrative Agent of its consent consents to such requested extension by (which consent may be given or withheld in such Lender’s sole and absolute discretion). Any Lender not responding within the Response Date and any Lender that is a Defaulting Lender on the Response Date above time period shall be deemed not to be a Non-extending Lenderhave consented to such extension. The Administrative Agent shall promptly notify the Borrower, in writing, Borrower and the Lenders of the Lenders’ elections promptly following responses. Notwithstanding anything herein to the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree. The contrary, no Extended Maturity Date may shall be extended no more a date later than two times pursuant to this Section 2.22five years from the applicable Extension Closing Date.

Appears in 2 contracts

Samples: Year Credit Agreement (NOV Inc.), Credit Agreement (National Oilwell Varco Inc)

Extension of Maturity Date. (a1) The Borrower may, by delivering from time to time and provided there is no Default or Event of Default which is continuing, request an Extension Request to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders), not less than 60 days in advance extension of the Maturity Date in effect at of each Lender by sending to the Administrative Agent, an Extension Request not less than sixty (60) days and not more than ninety (90) days prior to the then-current Maturity Date and the Administrative Agent shall forthwith notify the Lenders of such time request and each Lender shall acknowledge receipt of such notification. No later than thirty (30) days after receipt by the “Existing Administrative Agent of an Extension Request, the Administrative Agent shall provide a written notice to the Borrower confirming either: (i) the Lenders agree to extend the then-current Maturity Date for an additional 364-day period; or (ii) the Lenders will not extend the then-current Maturity Date”); provided that in the event any such Lender does not so advise the Administrative Agent within such thirty (30) day period, request such Lender shall be deemed to have advised the Administrative Agent that it is not prepared to make an offer to the Lenders Borrower to extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each LenderWithin two (2) Business Days of the Administrative Agent receiving from each such Lender its decision with respect to making an offer to the Borrower to extend the Maturity Date, acting the Administrative Agent shall provide the Borrower with an offer to extend the Maturity Date (which may be subject to such terms and conditions as the Lenders may require, in its sole their discretion, shall, ) and the Borrower shall be entitled to accept any such offer at any time up to and including the last Business Day preceding the then-current Maturity Date by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise the Administrative Agent in writing whether or not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending Lender. The Administrative Agent shall notify the Borrower, in writing, of the Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree. The Maturity Date may be extended no more than two times pursuant to this Section 2.22acceptance.

Appears in 2 contracts

Samples: Credit Agreement, Assignment and Assumption (Acreage Holdings, Inc.)

Extension of Maturity Date. (a) The Borrower maymay at any time during the Availability Period, by delivering an Extension Request on or before the date that is sixty (60) days’ prior to then applicable Maturity Date, request in writing to the Administrative Agent (who the “Extension Request”), that this Agreement be amended to extend the then current Maturity Date to a date one year later than the then current Maturity Date. A copy of the Extension Request shall promptly deliver a copy be provided by the Administrative Agent to each of the Lenders), not less than 60 days Lenders in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders extend the Existing Maturity Date to the first anniversary of such Existing Maturity Dateaccordance with Section 16.19. Each LenderLender may, acting in its sole discretion, shalldiscretion and regardless of whether or not there is any Default under this Agreement, by written notice to the Administrative Agent given (the “Extension Response Notice”), not later than the date that is the 20th day 35 days after the date Administrative Agent’s receipt of the Extension Request (the “Extension Response Period”), approve or decline the Extension Request. If any such Lender does not provide an Extension Response Notice within the Extension Response Period, such Lender shall be deemed to have declined the Extension Request. If the Majority Lenders approve the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise the Administrative Agent in writing whether or not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending Lender. The Administrative Agent shall notify the BorrowerBorrower and the Lenders of such approval and confirm the new Maturity Date, in writingwhich new Maturity Date shall become effective on and from the Maturity Extension Date for the Facility. If the Majority Lenders do not approve the Extension Request, of the Lenders’ elections promptly following Administrative Agent shall notify the Response Date. The election of any Lender to agree to such an extension Borrower and the Lenders and the Maturity Date shall not obligate any other Lender to so agree. The Maturity Date may be extended no more than two times pursuant to this Section 2.22extended.

Appears in 2 contracts

Samples: Credit Agreement (Gatos Silver, Inc.), Credit Agreement (Gatos Silver, Inc.)

Extension of Maturity Date. (a) The Borrower Borrowers may, by delivering an Extension Request to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders), not less than 60 thirty (30) days in advance of the applicable Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender, acting in its sole discretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th twentieth (20th) day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise the Administrative Agent in writing whether or not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending Lender. The Administrative Agent shall notify the BorrowerBorrowers, in writing, of the Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree. The Maturity Date Borrowers may be extended no not exercise their extension rights under this Section 2.21 more than two times pursuant to this Section 2.22twice.

Appears in 1 contract

Samples: Credit Agreement (Schweitzer Mauduit International Inc)

Extension of Maturity Date. (a) The Borrower may, by delivering an Extension Request to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender, acting in its sole discretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th 20 day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise the Administrative Agent in writing whether or not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending Lender. The Administrative Agent shall notify the Borrower, in writing, of the Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree. The Maturity Date may be extended no more than two times pursuant to this Section 2.222.21.

Appears in 1 contract

Samples: Credit Agreement (Keurig Dr Pepper Inc.)

Extension of Maturity Date. (a) The Borrower mayAt least 45 days but not more than 60 days prior to any anniversary of the Sixth Amendment Effective Date, the US Borrower, by delivering written notice (each, an Extension Request Notice”) to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders)Agent, not less than 60 days in advance may request an extension of the Maturity Date in effect at such time by one year from its then scheduled expiration; provided that in no event shall (i) the “Existing US Borrower make more than two (2) such requests during the term of this Agreement, (ii) there be more than three (3) separate Maturity Date”), request that Dates at any time and (iii) the Lenders extend the Existing Maturity Date to the first anniversary be extended beyond November 20, 2021. The Administrative Agent shall promptly notify each Lender of such Existing Maturity Date. Each Lenderrequest, acting and each Lender shall in turn, in its sole discretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after 20 days following the date of such Extension Notice, notify the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise US Borrower and the Administrative Agent in writing as to whether or not such Lender agrees will consent to the requested such extension. Each If any Lender that advises shall fail to notify the Administrative Agent that it will not extend and the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not advise the Administrative Agent US Borrower in writing of its consent to any such requested request for extension by of the Response Maturity Date and any within 20 days following the date of such Extension Notice, such Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending LenderExtending Lender with respect to such request. The Administrative Agent shall notify the Borrower, in writing, US Borrower not later than 15 days prior to the applicable anniversary date (or such later time as agreed between the US Borrower and the Administrative Agent) of the Lenders’ elections promptly following decision of the Response Date. The election of any Lender to agree to such Lenders regarding the US Borrower’s request for an extension shall not obligate any other Lender to so agree. The of the Maturity Date may be extended no more than two times pursuant to this Section 2.22Date.

Appears in 1 contract

Samples: Credit Agreement (Pool Corp)

Extension of Maturity Date. (a) The Borrower Company may, by delivering an Extension Request to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders), not less than 60 days in advance of the applicable Maturity Date with respect to any Facility, as in effect at such time (the an “Existing Maturity Date”)) for such Facility, request that the Lenders extend the such Existing Maturity Date (each, an “Extension”) to any date that it shall select (such date, the first anniversary of such Existing “Extended Maturity Date”; any Term Facility so extended, an “Extended Term Facility,”). Each Lender, acting in its sole discretion, shall, by written notice to the Administrative Agent given not later than the date that is specified by the 20th day after the date of the Company in such Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise the Administrative Agent in writing whether or not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the an Existing Maturity Date is referred to herein as a “Non-extending Extending Lender”; provided, that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending Extending Lender. The Administrative Agent shall notify the BorrowerCompany, in writing, of the Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such an extension Extension shall not obligate any other Lender to so agree. The Maturity Date may be extended no more than two times pursuant to this Section 2.22.

Appears in 1 contract

Samples: Credit Agreement (Madison Square Garden Entertainment Corp.)

Extension of Maturity Date. (a) The Borrower may, by delivering an Extension Request to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the "Existing Maturity Date"), request that the Lenders extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender, acting in its sole discretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the "Response Date"), advise the Administrative Agent in writing whether or not such Lender Xxxxxx agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a "Non-extending Lender"; provided, that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending Lender. The Administrative Agent shall notify the Borrower, in writing, of the Lenders' elections promptly following the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree. The Maturity Date may be extended no more than two three times pursuant to this Section 2.222.21.

Appears in 1 contract

Samples: Credit and Guarantee Agreement (H&r Block Inc)

Extension of Maturity Date. (a) The Borrower may, by delivering an Extension Request to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender, acting in its sole discretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise the Administrative Agent in writing whether or not such Lender Xxxxxx agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending Lender. The Administrative Agent shall notify the Borrower, in writing, of the Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree. The Maturity Date may be extended no more than two times pursuant to this Section 2.222.21.

Appears in 1 contract

Samples: Credit Agreement (National Fuel Gas Co)

Extension of Maturity Date. (a) The Borrower mayProvided there exists no Default or Event of Default, by delivering an Extension Request to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender, acting in its sole discretion, shall, by upon written notice to the Administrative Agent given not (which shall promptly notify the Lenders), the Borrowers may at any time no later than 60 days prior to the date Scheduled Maturity Date, request that the Scheduled Maturity Date be extended for an additional period of 12 months (such extended date, the “Requested Maturity Date”); provided that the Borrowers may make no more than two requests pursuant to this Section 2.15. At the time of sending such notice, the Borrowers (in consultation with the Administrative Agent) shall specify the time period within which each Lender is the 20th day after requested to respond (which shall in no event be less than 15 days from the date of delivery of such notice to the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”Lenders), advise . Each Lender shall notify the Administrative Agent in writing within such time period whether or not such Lender it agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Scheduled Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any the Requested Maturity Date. Any Lender that does not advise the Administrative Agent of its consent to responding within such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date time period shall be deemed to be a Non-extending Lenderhave declined to extend the Maturity Date to the Requested Maturity Date. The Administrative Agent shall notify the Borrower, in writing, Borrowers and each Lender of the Lenders’ elections promptly following ' responses to each request made hereunder. If Administrative Agent and each of the Response Date. The election Lenders consent to the extension of any Lender to agree to such an extension shall not obligate any other Lender to so agree. The the Scheduled Maturity Date may to the Requested Maturity Date, the Scheduled Maturity Date shall automatically, without the need for further action on the part of the Administrative Agent, the Borrowers or the Lenders, be extended no more than two times pursuant to this Section 2.22the Requested Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Horsehead Holding Corp)

Extension of Maturity Date. (a) The Borrower Borrowers may, by delivering an Extension Request to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders), not less than 60 45 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender, acting in its sole discretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th 10th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise the Administrative Agent in writing whether or not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending Lender. The Administrative Agent shall notify the BorrowerBorrowers, in writing, of the Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree. The Maturity Date may be extended no more than two times pursuant to this Section 2.222.21.

Appears in 1 contract

Samples: Credit Agreement (SJW Group)

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Extension of Maturity Date. (a) The Borrower may, by delivering sending an Extension Request Letter to the Administrative Agent (who in which case the Administrative Agent shall promptly deliver a copy to each of the Lenders), not less than during any period commencing 60 days in advance prior to any anniversary of the Maturity Effective Date in effect at and ending 30 days prior to such time (anniversary of the “Existing Maturity Effective Date”), request that the Lenders extend the Existing Maturity Date at the time in effect to the first anniversary of such Existing date that is one year following the Maturity DateDate then in effect. Each Lender, acting in its sole discretion, shall, by written notice to the Administrative Agent given not later more than the date that is the 20th day 20 days after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day Letter (the “Response Notice Date”), advise the Administrative Agent in writing whether or not such Lender agrees to the requested extension. Each such extension (each Lender that so advises the Administrative Agent that it will not extend the Existing Maturity Date is Date, being referred to herein as a “Non-extending Lender”); provided, provided that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on 20th day after the Response Date date of the Extension Letter shall be deemed to be a Non-extending Lender. The Administrative Agent shall notify the Borrower, in writing, of the Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree. The Maturity Date may be extended no more than two times pursuant to Administrative Agent shall notify the Borrower of each Lender’s determination (or deemed determination) under this Section 2.22.2.14(a) within three Business Days after the Notice Date. 28 #85763602v22

Appears in 1 contract

Samples: Assignment and Assumption

Extension of Maturity Date. (a) The Borrower may, by delivering an Extension Request to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender, acting in its sole discretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise the Administrative Agent in writing whether or not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending Lender. The Administrative Agent shall notify the Borrower, in writing, of the Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree. The Maturity Date may be extended no more than two times pursuant to this Section 2.222.21.

Appears in 1 contract

Samples: Credit Agreement (Dr Pepper Snapple Group, Inc.)

Extension of Maturity Date. (a) The Borrower At any time not earlier than August 31 of each year nor later than September 30 of each year, the Borrowers may, by delivering an Extension Request written request to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity DateExtension Request”), request that the Lenders this agreement be amended to extend the Existing then current Maturity Date to a date one year later than the first anniversary of such Existing then current Maturity Date. A copy of the Extension Request shall be provided by the Administrative Agent to each of the Lenders in accordance with Section 14.18. Each LenderLender may, acting in its sole discretion, shalldiscretion and regardless of whether or not there is any Default hereunder, by written notice to the Administrative Agent given (the “Extension Response Notice”), not later than 25 days prior to date which is two years prior to the date that is then current Maturity Date (the 20th day after “Extension Response Period”), approve or decline the date of Extension Request. If any Lender does not provide an Extension Response Notice within the Extension Response Period, such Lender shall be deemed to have declined the Extension Request. If the Majority Lenders approve the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise the Administrative Agent in writing whether or not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending Lender. The Administrative Agent shall notify the BorrowerBorrowers and the Lenders of such approval and confirm the new Maturity Date, in writing, of which new Maturity Date shall become effective on and from the Lenders’ elections promptly following the Response then current Maturity Date. The election of any Lender to agree to such an extension If the Majority Lenders do not approve the Extension Request, the Administrative Agent shall notify the Borrowers and the Lenders and the Maturity Date shall not obligate any other Lender to so agreebe extended. The Maturity Date may be extended no more than two times pursuant to this Section 2.22.Credit Agreement

Appears in 1 contract

Samples: Credit Agreement (New Gold Inc. /FI)

Extension of Maturity Date. (a) The Borrower may, by delivering an Extension Request to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders extend the Existing Maturity Date to the first anniversary of extended maturity date specified in such Existing Maturity DateExtension Request. Each Lender, each Swingline Lender and the Issuing Bank, each acting in its sole discretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise the Administrative Agent in writing whether or not such Lender Person agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Extending Lender”; provided, that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending Extending Lender, and the Issuing Bank or any Swingline Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date shall be deemed to have not consented to such requested extension. The Administrative Agent shall notify the Borrower, in writing, of the Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree. The Maturity Date may be extended no more than two times pursuant to this Section 2.22.

Appears in 1 contract

Samples: Credit Agreement (Oasis Midstream Partners LP)

Extension of Maturity Date. (a) The Borrower may, by delivering an Extension Request to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders extend the Existing Maturity Date to the first anniversary of such Existing Maturity Date. Each Lender, acting in its sole discretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise the Administrative Agent in writing whether or not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending Lender. The Administrative Agent shall notify the Borrower, in writing, of the Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree. The Maturity Date may be extended no more than two times pursuant to this Section 2.222.23.

Appears in 1 contract

Samples: Credit Agreement (Tpi Composites, Inc)

Extension of Maturity Date. (a) The Borrower may, by delivering sending an Extension Request Letter to the Administrative Agent (who in which case the Administrative Agent shall promptly deliver a copy to each of the Lenders), not less than during any period commencing 60 days in advance prior to any anniversary of the Maturity Effective Date in effect at and ending 30 days prior to such time (anniversary of the “Existing Maturity Effective Date”), request that the Lenders extend the Existing Maturity Date at the time in effect to the first anniversary of such Existing date that is one year following the Maturity DateDate then in effect. Each Lender, acting in its sole discretion, shall, by written notice to the Administrative Agent given not later more than the date that is the 20th day 20 days after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day Letter (the “Response Notice Date”), advise the Administrative Agent in writing whether or not such Lender agrees to the requested extension. Each such extension (each Lender that so advises the Administrative Agent that it will not extend the Existing Maturity Date is Date, being referred to herein as a “Non-extending Lender”); provided, provided that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on 20th day after the Response Date date of the Extension Letter shall be deemed to be a Non-extending Lender. The Administrative Agent shall notify the Borrower, in writing, of the Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree. The Maturity Date may be extended no more than two times pursuant to Administrative Agent shall notify the Borrower of each Lender’s determination (or deemed determination) under this Section 2.222.14(a) within three Business Days after the Notice Date.

Appears in 1 contract

Samples: Assignment and Assumption (Covidien PLC)

Extension of Maturity Date. (a) The Borrower may, by delivering an Extension Request to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders extend the Existing Maturity Date to the first anniversary of such the Existing Maturity Date. Each Lender, acting in its sole discretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise the Administrative Agent in writing whether or not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending Lender. The Administrative Agent shall notify the Borrower, in writing, of the Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree. The Maturity Date may be extended no more than two times pursuant to this Section 2.222.21.

Appears in 1 contract

Samples: Credit Agreement (Dr Pepper Snapple Group, Inc.)

Extension of Maturity Date. (a) The Borrower may, by delivering an Extension Request to the Administrative Agent (who shall promptly deliver a copy to each of the Lenders), not less than 60 days in advance of the Maturity Date in effect at such time (the “Existing Maturity Date”), request that the Lenders extend the Existing Maturity Date to for a period of 364 days; provided, that no such notice may be given at any time that a year or more remains under the first anniversary existing term of such Existing Maturity Datethis Agreement. Each Lender, acting in its sole discretion, shall, by written notice to the Administrative Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such date is not a Business Day, the immediately following Business Day (the “Response Date”), advise the Administrative Agent in writing whether or not such Lender agrees to the requested extension. Each Lender that advises the Administrative Agent that it will not extend the Existing Maturity Date is referred to herein as a “Non-extending Lender”; provided, that any Lender that does not advise the Administrative Agent of its consent to such requested extension by the Response Date and any Lender that is a Defaulting Lender on the Response Date shall be deemed to be a Non-extending Lender. The Administrative Agent shall notify the Borrower, in writing, of the Lenders’ elections promptly following the Response Date. The election of any Lender to agree to such an extension shall not obligate any other Lender to so agree. The Maturity Date may be extended no more than two times pursuant to this Section 2.222.18.

Appears in 1 contract

Samples: Credit Agreement (Rli Corp)

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